4 unchanged sentences
We have established policies and procedures governing our management of market risks and the use of financial instruments to manage exposure to such risks.
−Removed: As of December 29, 2023, we had $750.0 million of interest bearing indebtedness outstanding under our 2022 Credit Facility.
−Removed: Based on the $650.0 million of variable interest rate indebtedness that was outstanding as of December 29, 2023, after giving effect to our interest rate swap, a hypothetical 100 basis point increase or decrease in the interest rate would have resulted in an approximately $6.5 million increase or decrease in interest expense for the year ended December 29, 2023.
+Added: As of January 3, 2025, we had $713.7 million of interest bearing indebtedness outstanding under our 2022 Credit Facility.
+Added: Based on the $213.7 million of variable interest rate indebtedness that was outstanding as of January 3, 2025, after giving effect to our interest rate swaps, a hypothetical 100 basis point increase or decrease in the interest rate would have resulted in an approximately $2.1 million increase or decrease in interest expense for the year ended January 3, 2025.
+Added: As of January 3, 2025, our supplier-financed chassis on hand were $46.9 million.
+Added: A hypothetical 100 basis point increase or decrease in the interest rate would have resulted in an approximately $0.5 million increase or decrease in interest expense for the year ended January 3, 2025.
Exchange rate sensitivity
−Removed: As of December 29, 2023, we are exposed to changes in foreign currency exchange rates.
+Added: As of January 3, 2025, we are exposed to changes in foreign currency exchange rates.
While historically this exposure to changes in foreign currency exchange rates has not had a material effect on our financial condition or results of operations, foreign currency fluctuations could have an adverse effect on our business and results of operations in the future.
8 unchanged sentences
We are exposed to credit risk associated with cash and cash equivalents, interest rate swap agreement and trade receivables.
−Removed: As of December 29, 2023, the majority of our cash and cash equivalents consisted of cash balances in non-interest bearing checking accounts which significantly exceed the insurance coverage provided on such deposits.
+Added: As of January 3, 2025, the majority of our cash and cash equivalents consisted of cash balances in non-interest bearing checking accounts which significantly exceed the insurance coverage provided on such deposits.
We do not believe that our cash equivalents and interest rate swap agreement present significant credit risks because the counterparties to the instruments consist of major financial institutions.
4 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.